Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he plans to replace the Barnett formula with a needs-based funding floor.

There are no plans to replace the Barnett formula. It has stood the test of time because it is simple, efficient and provides a clear and certain outcome. The outcome is that spending per head in Scotland, Wales and Northern Ireland is higher than the UK average, meaning the Northern Ireland Executive are funded above their independently assessed level of need

I regularly engage with my devolved government counterparts on devolved government funding arrangements, including the Barnett formula.